This Federal Reserve Payments Study (FRPS) 2018 annual supplement (Off-site) updates data on core noncash payment types and systems that support everyday payments by U.S. consumers and businesses. Among the important findings: Card payments continued to show robust growth from 2016 to 2017, collectively increasing 10.1 percent by number and …
The Federal Reserve is seeking payments industry leaders with specific expertise to participate in a Fed-led work effort to create ACH, wire and check fraud definitions. This new work group is the next step in the Fed’s collaborative efforts that will help develop a more consistent and holistic terminology to …
Federal Reserve Faster Payments Strategy Leader Sean Rodriguez will retire from the Federal Reserve Bank effective January 4, 2019. Rodriguez, an executive vice president and 35-year veteran of the Federal Reserve, is leaving on a high note after steering multi-year collaborative industry efforts to a successful conclusion with the launch …
In November, the Federal Reserve announced the launch of a new membership organization, the U.S. Faster Payments Council (FPC) (Off-site), whose mission is to ensure all Americans can safely and securely pay anyone, anywhere, at any time with near-immediate funds availability. If you’re interested in hearing more about the organization …
In November, the Federal Reserve announced the launch of a new membership organization, the U.S. Faster Payments Council (FPC) (Off-site), whose mission is to ensure all Americans can safely and securely pay anyone, anywhere, at any time and with near-immediate funds availability. To learn more about this widely anticipated organization, …
The FedPayments Improvement Community Forum brought together 300 attendees under a common theme: to help shape the next steps in the Federal Reserve’s initiatives to modernize the U.S. payment system. Keynote speeches offered insight and updates on payment improvement initiatives and workshops facilitated conversations and collaboration. Relive the energy and …
Thank you to everyone who attended our town halls on the Faster Payments Settlement Assessment Federal Register notice (Off-site). The Federal Reserve believes that industry collaboration is the foundation of any enduring strategic improvements to the U.S. payment system. If you were unable to attend or would like to review …
The Federal Reserve held public Town Hall meetings in each of its 12 districts and hosted a webinar to help build an understanding of the Faster Payments Settlement Assessment Federal Register Notice (Notice) with stakeholders all across the nation. Watch the webinar recording below for an overview of the conceptual …
The Federal Reserve has served as a catalyst for change in the improvement and advancement of payments security in the United States and continues to engage with industry stakeholders. To help the Fed set priorities for collaboration with the industry to enhance end-to-end payments security, the Fed commissioned Boston Consulting …
The Federal Reserve released its latest payments study fraud report, which details the cost and number of fraudulent payments in the United States. Among the important findings: The 2015 payments fraud rate, by value, was more than 20 percent larger than in 2012, while the 2015 fraud rate, by number, …